Bitcoin Sinks Below $58K, Crypto Market Drops 9% in Run-Up to Fed Decision

Bitcoin has plunged below $57,000, marking its lowest since February and signaling a significant 8% drop in 24 hours. This decline is part of a broader 9% downturn in the crypto market ahead of the Federal Reserve's interest rate decision. The crypto sector's slump mirrors a general risk-off mood in financial markets, driven by concerns of slow growth and persistent inflation in the U.S.